~Five-day tour features finalists from various sectors competing for five $25,000 grants~

Governor McAuliffe announced today the kick off of the Virginia Velocity Tour Business Plan Competition in Roanoke, Virginia. Nearly 30 finalists will compete for five $25,000 business grants in public pitch events during the week-long tour with stops in Charlottesville, Hampton Roads, Northern Virginia, Richmond and Roanoke.

“I am honored to kick off of the Virginia Velocity Tour, a competition that embodies our efforts to build a strong entrepreneurial ecosystem throughout the Commonwealth,” saidGovernor McAuliffe. “It is my hope that this year’s competition will attract proposals from entrepreneurs who will be job creators of the future and draw more awareness to the significant progress we are making building a new Virginia economy.”

The Virginia Velocity Tour, a partnership between Village Capital and the Commonwealth of Virginia, is a week-long event designed to provide visibility and seed funding to promising startups throughout Virginia. The program will highlight industry sectors of regional strength, including: agriculture, biotech, energy, health, and security.

“Virginia is proud to partner with Village Capital on this tour that is offering additional incentives and platforms for entrepreneurs to showcase their ideas and talents,” saidSecretary of Commerce and Trade Todd Haymore. “We are excited to learn more about each of the finalists through the pitch events, and we are looking forward to awarding $125,000 in grants to create new jobs and bring new businesses to Virginia.”

“The quality and quantity of the applicants we have seen for the Virginia Velocity Tour Business Plan competition has been nothing short of extraordinary, exceeding our already high expectations,” saidRoss Baird, CEO of Village Capital. “There is no doubt in my mind that many of these companies will drive significant economic impact for Virginia, and leave a significant mark on the nation and the world.”

The Virginia Velocity Tour committee has selected 29 finalists to participate in five pitch competitions in several regions across the state. In addition to the pitch competitions, Governor McAuliffe will be participating in a fireside chat during the Richmond pitch event on September 20 at 5:30 p.m. Below is information on all five days including the pitch events that are open to the public and a list of the finalists for each region:

Village Capital, a 501(c)(3) nonprofit, sources, trains and invests in seed-stage entrepreneurs with business solutions to major global problems in agriculture, energy, education, financial inclusion, and health, and then puts the power of investment in the hands of the entrepreneurs, who allocate investments to the two ventures ranked highest by their peers at the end of every program. Over the past seven years, the organization has supported over 500 companies in 15 countries; this year, Village Capital is working with 27 communities around the world to implement sector-focused, peer-reviewed investments in local entrepreneurs through its VilCap Communities initiative.To learn more, visit http://www.vilcap.com.